Club Mahindra introduces Fundays for corporates

Chennai, October 11, 2006: Club Mahindra Holidays, India's leading 'family holiday' company and the top, high-value holiday brand in the country today announced launch of a new holiday product 'Club Mahindra Fundays' specifically conceptualized for the corporate sector. This unique product is a 10-year point-based membership plan. The product has been specially designed to be anti-inflationary and is extremely flexible and scalable.

Companies that join as members can access 15 luxurious resorts of Club Mahindra at destinations such as Goa, Manali, Coorg and Bangkok and 3,700 RCI resorts world-wide. The members will have a choice of studio, one bedroom and two bedroom apartments across all Club Mahindra resorts. Mr. Arun Nanda, Chairman - Mahindra Holidays and Resorts Ltd said, "Club Mahindra will partner corporates by enabling them to offer different holiday plans to their employees. The in-built flexibility in the product will allow companies to offer it across all management levels. With challenges such as high attrition rate and stress, corporates shall benefit through improved productiveness and retention."

The key features of 'Club Mahindra Fundays' include easy point-based monitoring and administration, single window access to fulfill all travel needs of an employee and flexibility of seasons, destination and size of the apartment. It also includes inflation-proofing as the annual entitlement increases in step with inflation.

"We would be targeting senior human resource managers and expect to add 10 -15 clients by the end of F-07, bringing in with them an eligible base of over 2500 families. While ITES sector would be our core target group, given the flexibility in the plan and growing consciousness amongst corporates, we expect to add business from other sectors as well," said Mr. Ramesh Ramanathan, Managing Director "� Mahindra Holidays and Resorts India Ltd.

Mahindra Holidays and Resorts India Ltd. is launching 'Fundays' in Mumbai, Delhi Bangalore, Chennai and followed by other cities shortly.

About Club Mahindra Holidays & Resorts

Club Mahindra, the flagship brand of Mahindra Holidays and Resorts India Ltd., is a subsidiary of the USD 3 bn Mahindra and Mahindra Ltd. Club Mahindra is a leading player in the leisure & vacation ownership industry with an aim to enrich people's lives by making family holidays a part of their lifestyle and lays emphasis on the benefits of consistent quality and economy through customer-friendly investment payment options. Club Mahindra today provides its customers 15 five-star resorts of its own and also through affiliations provides access to 40 resorts in India and through RCI exchange, 3,700 premier resorts worldwide. For further information: www.clubmahindra.com